Cricut (CRCT) Q4 2025 earnings summary

Executive summary

• Achieved ninth consecutive year of profitability with net income of $76.7 million, up 22% year-over-year, representing a 10.8% margin.

• Paid subscribers grew over 4% to 3.09 million, with strong conversion and retention.

• Total company sales declined less than 1% for the year and 3% in Q4 year-over-year.

• Launched two new cutting machines, new heat presses, and enhanced software with AI features and guided flows.

• Focused on new user acquisition, engagement, subscriptions, and accessories/materials.

Financial highlights

• Full-year revenue was $708.8 million, down less than 1% from 2024; Q4 revenue was $203.6 million, down 3% year-over-year.

• Q4 net income was $7.8 million (3.8% of sales); full-year net income was $76.7 million (10.8% of sales).

• Platform revenue in Q4 was $83.9 million, up 6% year-over-year; full-year platform revenue up 5%.

• Product revenue in Q4 was $119.7 million, down 8% year-over-year; full-year product revenue down 5%.

• Accessories and materials sales decreased 13% in Q4 and 9% for the year.

Outlook and guidance

• Expect profitability each quarter and positive cash flow from operations in 2026.

• Anticipate continued platform growth for the full year, with seasonal softness in Q2 and Q3.

• Accelerating investments in R&D, new product launches, and marketing, including internationally.

• Ongoing activity expected under the $50M stock repurchase program, with $41.3 million remaining.

• No detailed guidance on margin impact due to tariff uncertainties and Supreme Court ruling.